debt because we were a consuming society. >> within the u.s. you have people who borrowed, okay. the person who did the wrong thing, namely take a mortgage when they should not have borrowed that much much money, okay. it's being bailed out when the person who saved money is now on the threat of high inflation to bail the other person out with a little bit of inflation. to me, there is a moral problem. there are two moral problems. no one, the innocent is paying for the mistake. the innocent the person who did the right thing is paying for mistakes of those who did the wrong thing and the second one we by borrowing, by running this now trillion plus deficit, we are transferring the risk to futuregen race. it may work out but they should not be the ones to bear, that's the romans held is that a child shall not be responsible for the sins of his father. >> charlie: so do you accept the principles of the deficit reduction a way to begin to deal with the deficit proposed by them? >> i have not followed. i don't follow. they did the that for me except for the uk because of my closenes